Shuyun Che's questions to VNET Group Inc (VNET) leadership • Q3 2024
Question
Shuyun Che requested details on the Taicang pre-REIT project, including its current utilization, revenue, and EBITDA margin, and asked about plans for similar future projects. She also sought clarity on the CapEx outlook for the upcoming year, given the planned delivery of 297 MW in wholesale capacity.
Answer
Rotating President Chenggang Shen stated the Taicang project is at approximately 50% utilization, projected to reach 95% by the end of next year with an estimated EBITDA of RMB 570 million. An executive added that VNET plans similar projects, with a 2025 goal to launch a pre-REIT for its Ulanqab campus. CFO Qiyu Wang confirmed that robust wholesale demand will drive increased CapEx in 2025, managed at a steady pace.